Staples sees 1Q EPS growth of 15%-20%; boosts annual div

MichaelBaron

NEW YORK (MarketWatch) -- Staples Inc.
spls
forecast high-single digit sales growth and earnings per share growth of 15% to 20% for the first quarter on a year-over-year basis. For the full year, the Framingham, Mass., office products retailer sees low double-digit sales growth and earnings per share growth of 15% to 20% from 2005 levels. These outlooks include the impact of stock option expensing. The company also said its board has approved an annual cash dividend of 22 cents a share for 2006, a payout that represents a 32% increase from 2005. The dividend is payable on April 20 to shareholders of record on March 31. The stock finished Monday at $23.07, up 37 cents.

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